In a bid to become more efficient, HSBC has collaborated with Silicon Valley based Artificial Intelligence (AI) startup ‘Ayasdi’. With this tie up, the bank aims to digitize its compliance processes to prevent money laundering activities by implementing the company’s AI technology to automate its anti money laundering investigations.

2016-05-20 :HSBC to Close Half of India Branches in Digital Banking Push

HSBC Holdings Plc plans to shut almost half its branches in India and rely more on digital banking to expand its consumer business in the South Asian nation. The London based bank will cut 24 of its 50 branches. The outlets to be closed account for less than 10 percent of HSBC retail customer base in India. HSBC said it remains committed to India, where it is also shutting its global private banking operations.

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